Not without removing the DRM. This is possible (threads on ADEPT), but for lending library ebooks the legal situation is murkier than for ebooks you buy. My guess is that this is illegal in the US. As a practical matter, if you strip the DRM for personal use you are unlikely to be held accountable.

I don't know what the best way to read DRM-free Adobe PDF ebooks on Android is. You can try converting them to ePub, e.g. using Calibre. Both FBReader and Aldiko can read DRM-free ePubs on Android.